_Large.jpeg)
Featured Image Credit: Getty Stock Images
Topics: Jobs, Money, UK News, Cost of Living
Anish Vij
As the cost-of-living crisis seems to be getting worse, loads of working Brits will welcome the news of a pay rise which comes into force today (1 April).
With household bills going up and up, people are not going to complain at a wage increase.
Last month (26 March), Chancellor Rachel Reeves said in the Spring Statement that the government would be putting up the National Living Wage.
She previously called it a 'significant step' to provide a 'genuine living wage for working people'.
Advert
"This Labour government was elected to bring change to our country," she said.
"To provide security for working people and to deliver a decade of national renewal.
"That work of change began in July - and I am proud of what we have delivered in just nine months.
"Restoring stability to our public finance, giving the Bank of England the foundation to cut interest rate three times since the general election.
Advert
"Rebuilding our public services with record investment in our NHS, bringing waiting lists down for five months in a row.
"Now, our task is to secure Britain’s future in a world that is changing before our eyes."
The living wage is going to increase by 6.7 percent from £11.44 an hour to £12.21 an hour, meaning people will be getting 77p more for each hour they work.
According to Downing Street, this means Brits earning the living wage and working a full time job will take home £1,400 more in pay a year due to the wage increase.
Advert
It's not the only change coming in today either, as there is also going to be bigger pay rises for other tiers of the National Living Wage, as the top rate is for those aged 21 and above, along with pay for apprentices.
18 to 20-year-olds on the living wage are going to be getting a 16.3 percent increase in pay, with their rate increasing from £8.60 an hour to a tidy £10.
It's the under-18s and apprentices who will see the biggest pay increase though, as now their hourly rate will now shoot up from £6.40 to £7.55.
Apprentices who are aged 19 or over and have completed the first year of their apprenticeship then get shifted up to their age appropriate level of pay.
Advert
While the changes kick in today, you may want to be vigilant that your employer hasn't failed to increase your pay as they should.
Earlier this year, Martin Lewis advised Brits on the National Living Wage to check that their earnings weren't falling below the legal limit.
Additional words by Olivia Burke.